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The share price of Minnesota-based affiliate marketing firm SharpLink Gaming soared over 7% in the past 24 hours after the company announced a second Ethereum (ETH) purchase for $30 million.
In a June 25 announcement, SharpLink Gaming said it purchased 12,207 ETH at an average price of $2,513 last week for around $30.7 million.
SharpLink Gaming Sells Shares To Buy More ETH, Stakes All Of Its Holdings
SharpLink said in its announcement that it sold 2.54 million shares last week as well to raise $27.7 million. The majority of the funds will be used to further bolster its Ethereum treasury, the firm added.
Today, SharpLink announces that our ETH holdings have further increased to 188,478, which were acquired at an average price of $2,513 per ETH. https://t.co/7kENpBWM41 pic.twitter.com/reFHxplxA9
— SharpLink Gaming (@SharpLinkGaming) June 24, 2025
That’s after the company raised $425 million for its ETH acquisition plan in May. SharpLink Gaming then became the largest corporate Ethereum holder in June when it bought $463 million worth of ETH.
The recent purchase has pushed the company’s total holdings in the leading altcoin to 188,000 ETH worth around $457.4 million. SharpLink Gaming has also staked 100% of its ETH holdings as of June 20, and has generated 120 ETH worth $293,000 so far, the firm said in the announcement.
SharpLink Gaming’s Share Price Soars 7%, Is Still Down On Longer-Term Time Frames
Google Finance data shows the company’s shares closed yesterday’s trading session at $9.66. This rally then continued in after-hours trading, with the firm’s share price rising another 1%.
Despite the recent gains, the company’s stock price remains over 29% in the red over the past 5 days. It’s also down more than 73% over the last month.
ETH itself registered an over 1% gain over the past 24 hours to trade at $2,450.21 as of 3:29 a.m. EST, according to CoinMarketCap data.
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